The international economy in 2014

2014 will present brighter prospects for the US and UK, although some fiscal adjustment is needed. Volatile capital flows will trouble emerging economies and debt forgiveness will be needed for a European recovery.

Lowy Interpreter

Let's start with the global economic outlook. A common view is that advanced economies are at last on the mend and will take over the running from emerging economies, which have provided much of world growth since 2008.

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